Why we subsidise petrol – Baru

The Group Managing Director of NNPC, Maikanti Baru PHOTO: TWITTER/NNPC The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, yesterday said the corporation was subsidising fuel because government was not favourably disposed to having the pump price exceed the N145 per litre. Fielding questions from State House Correspondents after a […]

NNPC ‘banked over N50 billion in TSA breach’

NNPC Group Managing Director (GMD), Mr. Maikanti Baru, to appear before its ad hoc committee probing implementation of the policy next week Wednesday   • Reps summon GMD, CEOs, seek evidence ‘Buhari approved non-compliance’ The House of Representatives yesterday uncovered how the Nigeria National Petroleum Corporation (NNPC) flouted the Treasury Single Account (TSA) policy by […]

Nigeria’s crude oil suffers setback as more traders opt for U.S. blend

Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said. Besides, Nigeria’s crude oil production declined by 54,200 barrels per day (bpd) from the […]

Federal Government targets N3.6 trillion investments in oil, gas infrastructure

The Minister of State for Pretroleum Resources Emmanuel Ibe Kachikwu PHOTO: TWITTER/NNPC Federal Government has renewed its commitment to attract over $10 billion (N3.6 trillion) to the Niger Delta between 2017 and 2019 through investments in infrastructure. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who made the disclosure at the graduation ceremony […]

Why Federal Government shifted focus to modular refineries, by Ibe Kachikwu

Represented by the Permanent Secretary, Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan, hesaid:  “One of the major policy thrust of the present administration is the development and engagement of local content. • Senate panel seeks expansion of local content act beyond oil, gas • NGPTC attributes N15.81b profit to transformation  The Federal Government’s focus on modular […]